Bisnow recently outlined how the pandemic has adversely impacted the construction industry in its article Construction’s Woes Start To Hit This Surging Real Estate Sector. The article also addressed how rising materials costs and supply chain disruptions are generating further impacts that are now impacting the commercial real estate industry.
“Duke Realty Corp. Senior Vice President Stephanie Rodriguez said that when the pandemic first began, most of the sector hit pause on speculative industrial developments, to ensure that balance sheets remained in check. When demand remained strong, especially for logistics facilities, construction of spec development started up again.
“Delayed deliveries have negatively impacted construction schedules across the U.S., but Rodriguez said that despite the challenges, Duke Realty Corp. hasn’t been forced to hold off on any projects. The industrial REIT tends to specialize in larger facilities that cater to e-commerce and supply chain users, two sectors that have been in extremely high demand since the onset of the pandemic.”
Read more of Rodriguez’s first-hand experience with Duke Realty projects in her market in the Bisnow article published on April 8, 2021.